What Is NH Ocean Frontage Worth?
Here are the 8 NH oceanfront properties sold so far in 2011. This report is a little cheeky but interesting.
To see all ocean view and ocean front properties currently available, click here => NH Oceanfront
Fascinating Fact: 6 out of 8 of these homes were purchased without a mortgage.
Originally asking $1,345,000, this home with 50 feet of ocean frontage was on the market 416 days with price adjusted to $994,000 and sold at 86% of asking for $857,500.
Originally asking $1,075,000, this home with 60 feet of ocean frontage was on the market 441 days with price adjusted to $950,00 and sold at 99% of asking for $940,000.
Originally asking $1,450,00, this home with 60 feet of ocean frontage was on the market 595 days with price adjusted to $1,295,000 and sold at 83% of asking for $1,075,000.
Originally asking $1,295,000. this home with 50 feet of ocean frontage was on the market 13 days and sold at 91% of asking for $1,175,000.
Originally asking $1,895,000, this home with 120 feet of ocean frontage was on the market 5 days and sold at 87% of asking for $1,642,500.
Originally asking $1,985,000, this home with 101 feet of ocean frontage was on the market 55 days and sold at 86% of asking for $1,710,000.
Originally asking $2,300,000, this home with 52 feet of ocean frontage was on the market 259 days and sold at 92% of asking for $2,120,000.
Originally asking $4,500,000, this home with 80 feet of ocean frontage was on the market 374 days with price adjusted to $3,990,000 sold at 85% of asking for $3,400,000.
NH Ocean frontage is worth $22,548 per foot.
Add up the total sales price of these homes $12,920,000 and divide by the total ocean frontage 573 feet and you come up with the value of NH ocean frontage at $22,548 per foot.
Have any ocean frontage you want to sell?
NH Oceanfront Graphical Data
I put this graphical data together for illustration. There really isn't enough data to determine any trends and besides, oceanfront property is it's own entity and is not necessarily effected by economic factors which effect most other types of homes. The seacoast of New Hampshire has really held its value quite well through the "Great Recession".
About the Author:
Marty Patrizi is a full service New Hampshire Realtor at Virtual Homes, Inc. and his emphasis is on “service”. Marty works as a Buyer’s Agent and a Listing Agent. Marty is also a building and renovation Contractor since 1988. As a buyer’s agent, Marty’s extensive construction experience puts him ahead of other buyer agents because he has the ability to determine value and costs related to repairs and updates needed. As a seller’s agent, he knows that buyers come from searching on line and how to generate more qualified buyers through maximum exposure of his client’s properties on the internet. Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com.
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